26215, Cleveland, WV

Home Equity and Home Prices in the 26215 Zip Code of Cleveland, WV

The 26215 zip code of Cleveland, WV has a median home value of $141,000 and a median home equity value of $116,000. This is lower than the national median home value of $177,500 and median home equity value of $130,000. The 26215 zip code has a lower than average percentage of homeowners with a mortgage at 54%. This is higher than the national mortgage percentage at 46%.

There are several factors that may contribute to the lower home values in the 26215 zip code. One reason may be that this area has experienced slower economic growth than other parts of the country over recent years. Another reason may be that there are fewer homes for sale in this zip code compared to other areas. Finally, some homeowners may have chosen to refinance their mortgages rather than sell their homes outright.

Despite these factors, there are still many homeowners in the 26215 zip code who are benefiting from rising home prices. In fact, according to Zillow’s 2018 Home Value Index report, the average increase in home values in this zip code between 2017 and 2018 was 9%. This is higher than the national average increase of 6%.

Overall, it seems that while homeownership rates in this area may be lower than average, there is still strong demand for homes here. This suggests that if you are looking to buy or sell a home in Cleveland, WV – or anywhere else in West Virginia – you should expect strong competition from potential buyers and sellers alike.